Advanced manufacturers are being supported in Tasmania to invest in new equipment and enter new markets through the state government’s $3 million Accelerating Growth Grant Program.
Committing to $3 million for four rounds over two years, the Accelerating Growth Grant Program will enable Tasmanian manufacturers to become more competitive and resilient. The program will also increase employment opportunities and be better able to compete in global markets.
Round One opened on 2 August 2021 and after a rigorous assessment process, eight local companies have been successful in their applications, resulting in a potential investment of $5.3 million into our economy, generating 57 new manufacturing jobs in Tasmania.
The successful applicants included:
- Marinova Pty Ltd – $100,000 – to assist with an expansion of the fucoidan extraction facility;
- Island Block and Paving Holdings Pty Ltd – $100,000 – to assist with manufacturing expansion;
- Mitchell Plastic Welding Pty Ltd – $ 82,278 – assistance with equipment supporting a new market expansion opportunity;
- Lightning Protection International Pty Ltd – $100,000 – to assist with the purchase of high productivity equipment;
- Westhaven Dairy Pty Ltd – $85,618 – to assist with equipment to reduce production bottlenecks;
- Lenah Game Meats Pty Ltd – $50,529 –to support production expansion;
- Aerial Inspections Pty Ltd – $92,293 – funding to purchase equipment that will enable new manufacturing opportunities; and
- FH Management Pty Ltd – $96,994 – to assist with the purchase of equipment to enhance automation processes.
Recipients of the grant will use the funds to invest in new equipment that improves production processes and aids expansion, and as previous programs have demonstrated, will deliver greater overall economic benefits for regional Tasmania.
Manufacturing is the fifth-largest industry in Tasmania generating a turnover of more than $7 billion a year and employing 18,000 people. The Tasmanian government has a strong record of backing in these critical industry sectors, and aim to continue to support future growth in manufacturing excellence.
Round Two of the Accelerating Growth Grant Program will open on Monday 31 January 2022.
Further information and the program guidelines are available from Business Tasmania.